One of the most evocative names in Porsche‘s trophied history has to be the Porsche 550 Spyder. Some remember it as one of the best road-racing cars of its era, while some remember it as the car in which James Dean died.

Now according to some reports, the 550 name is about to make a comeback in 2014 on a new entry-level model which will be positioned below the current Porsche Boxster line-up.

Reports suggest this new 550 model will feature a 1.6-liter, turbo-charged, four-cylinder engine, and it will produce about 200 hp. Transmission choices will include a normal manual gearbox and PDK, Porsche’s dual-clutch gearbox.

More importantly, the new Porsche model is expected to cost €39,000 which is roughly €8,000 less than the current Porsche Boxster. So if you’ve been wanting to park a new Porsche in your garage but couldn’t afford to do so, perhaps now you’ll be able to.